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05, March 2009
Japanese luxury department store brand Takashimaya is scheduled to open in Shanghai in 2012. The plans were made official on the 23rd of February at a government office in Shanghai, China.
Due to the recent slowdown of Japan's economy, department stores have taken an especially large hit in terms of sales. Japanese department stores, including Takashimaya, are now focusing their efforts on international markets which are still showing signs of growth. One of the largest of these currently expanding markets is China.
The amount of investment being put forward for this expansion totals around 40 million USD (¥40 billion). This investment is possible due in part to the success of Takashimaya's existing overseas stores, especially their Singapore location. With everything from clothing to commodity goods to household items, Shanghai's Takashimaya is expected to become the newest popular location for customers to shop for famous brands from around the globe all in one place.
Introduced in 1919, with 90 years of history behind the name, Takashimaya has established itself in other locations as well including New York and Paris, France.
March 5, 2009 CRI Online